July 4, 2013 / 12:43 PM / in 5 years

Draghi says rates will remain low for extended period

FRANKFURT (Reuters) - European Central Bank policy will keep interest rates at current or lower levels for an extended period of time, ECB President Mario Draghi said on Thursday, giving financial markets the clearest guidance to date about future rates.

European Central Bank (ECB) President Mario Draghi arrives at a European Union leaders summit in Brussels June 28, 2013. REUTERS/Francois Lenoir

“The Governing Council expects the key ECB rates to remain at present or lower levels for an extended period of time,” Draghi told a news conference.

Earlier on Thursday, the ECB held its main interest rate at a record low of 0.50 percent. It also left the rate on its deposit facility at zero and held its marginal lending facility - or emergency borrowing rate - at 1.00 percent.

Reporting by Sakari Suoninen Editing by Jeremy Gaunt

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